Ukraine has recruited the help of a top White House adviser to meet with officials from nations that have stayed on the sidelines of the war in Ukraine, the Financial Times reported on Wednesday.
(Bloomberg) — Ukraine has recruited the help of a top White House adviser to meet with officials from nations that have stayed on the sidelines of the war in Ukraine, the Financial Times reported on Wednesday.
National Security Advisor Jake Sullivan is expected to join Ukraine’s effort to sway various countries, according to the FT. The newspaper said the meeting will take place in Denmark over the weekend and participants may include representatives from countries such as India, Brazil, South Africa and Turkey.
China, which has shown support for Russia in the conflict, may also send a representative, the FT said.
The US said it would provide an additional $1.3 billion toward the cost of reversing the devastation inflicted on Ukraine by Russia’s invasion, estimated by the World Bank at more than $400 billion over the next decade.
US Secretary of State Antony Blinken made the pledge at Wednesday’s Ukraine Recovery Conference in London, where host Rishi Sunak announced the creation of a framework for war-risk insurance designed to encourage private investors.
The UK premier said that more than 400 businesses from 38 countries have signed up to join the reconstruction effort. The London-based European Bank of Reconstruction and Development said it would seek to raise €600 million ($767 million) in loans and grants to restore Ukraine’s energy infrastructure.
While Sunak insisted that the Kremlin must be made to pay for rebuilding Ukraine, a document obtained by Bloomberg showed that the European Union has assessed that it can’t legally confiscate frozen Russian assets and is focusing on exploiting them temporarily. Austrian Foreign Minister Alexander Schallenberg urged caution in an interview with Bloomberg TV, warning that a successful legal challenge “would be a diplomatic and economic disaster.”
Latest Coverage
- EU Backs Fresh Russia Sanctions to Crack Down on Circumvention
- Sunak Unveils War-Risk Scheme to Spur Ukraine Reconstruction
- Blinken Pledges $1.3 Billion Aid for Ukraine Grid, Infrastructure
- EU Sees Legal Hurdles to Seizing €200 Billion in Russian Assets
- Ukrainian Telecom Giant Plans Rebuild — With Chinese Kit for Now
- Poland Lures US Big Tech to Front Line of East-West Tension
Coming Up
- President Joe Biden hosts Indian Prime Minister Narendra Modi at the White House
- Ukraine Recovery Conference concludes in London
- Informal meeting of EU General Affairs Council begins in Stockholm
More stories like this are available on bloomberg.com
©2023 Bloomberg L.P.